In addition to the fact that many crypto fanatics keep a close eye on the charts, Elon Musk’s Twitter account is also closely monitored. In the past, his tweets have often proved to be influential on prices of, for example, dogecoin (DOGE). Today, Musk tweeted positively about crypto in the general sense.
Musk recently came in negative in the news because his Tesla was not bitcoin (BTC) accepts more as a payment method. He and his company are concerned about the impact on the climate. Nevertheless, Musk has emphasized several times that he still stands behind crypto in general.
Today someone asked him on Twitter what Musk thinks about the fact that he has received a lot of negative comments. His response shows that Musk believes the actual battle is distracted by this discussion. The real battle lies elsewhere:
“The real battle is between fiat and crypto. On balance, I support the latter. ”
The true battle is between fiat & crypto. On balance, I support the latter.
— Elon Musk (@elonmusk) May 22, 2021
The market appeared to be experiencing a slight positive momentum after the tweet. For example, the price of bitcoin rose by a few percent. Whether this is only the result of Musk’s positive tweet cannot be determined.
Many criticize the influence Musk has, both negative and positive, on crypto prices. For example, he is blamed for the recent downward movements of the bitcoin price. Tesla will no longer accept bitcoin due to climate concerns. But is there more to this decision?
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